Insurance Supervision Institute of Mozambique holds ninth EFISE insurance capacity-building session in Chimoio

The Insurance Supervision Institute of Mozambique held its ninth insurance capacity-building session for professional groups in Chimoio, Manica province, under its Insurance Financial Education Strategy (EFISE). The event positioned the training as part of the government’s National Financial Inclusion Strategy and emphasised consumer protection and public education on insurance. ISSM noted it had already delivered eight similar training sessions for journalists and other professional groups across all regions of Mozambique, and encouraged participants to promote the insurance sector and build partnerships to improve insurance literacy. In opening remarks, Manica’s Provincial Director of Economy and Finance linked the initiative to the 2013 Financial Sector Development Strategy and promoted disaster and climate-risk insurance, adding that the Ministry of Economy and Finance plans to adopt a sovereign insurance arrangement to cover climate change-related events. At the close, participants called for strengthened supervision and monitoring of suspicious money laundering and terrorist financing activity in the insurance sector. Alongside the training, ISSM met with provincial insurance operators as part of its supervision work and delivered a session on compulsory motor third-party liability insurance for traffic police, the Mozambique Tax Authority and municipal police in Chimoio.